Shares of C are jumping higher here after the company reported better-than-expected earnings for the first quarter of 2013.

From a technical perspective, C is moving higher here right above its 50-day moving average of $44.15 with above-average volume. This move is quickly pushing shares of C within range of triggering a major breakout trade. That trade will hit if C manages to take out its 52-week high at $47.92 with high volume.

Traders should now look for long-biased trades in C as long as it's trending above its 50-day at $44.15, and then once it sustains a move or close above $47.92 with volume that hits near or above 32.01 million shares. If that breakout triggers soon, then C will set up to enter new 52-week high territory above $47.92, which is bullish technical price action. Some possible upside targets off that breakout are $50 to $51.50.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.